Regular Savings Accounts: The Best Currently Available List!

AmityNeon

I'm still waiting for letters to arrive that were posted nearly three weeks ago. The thought of staff having to open mountains of envelopes, perform manual data entry to create accounts, and then post passbooks...

The last time I posted a paper application form, I didn't hear anything for three weeks. I called to enquire about an update, only to be told my details could not be found on their systems, so they concluded the post probably got lost in transit (despite a signature on delivery). Great... so all my personal and private details were floating out there in the ether. I applied, again, and within a week I called to chase it up, only to be told my first application was actually received, but my old/previous address was entered incorrectly as my current address, and the first agent failed to consider this possibility in their search terms. I did receive compensation for the debacle, but it served as a perfect reminder of why I hate snail mail.

chris_the_bee

10_66 said:

liamcov said:

subjecttocontract said:

Sent mine to Monmouth on 26/11.....I'm not surprised I haven't heard......in fact expected long delay.
* They are swamped with applications.
* Postal strike 30/11 & 1/12
Might hear something mid December.....if I'm lucky.

Any further news from anyone?

I sent them a secure message on Saturday but they haven't responded. What is the response if calling them - wait until they get back to you?

There is now a recorded message re the Christmas Saver, basically saying they've been inundated.

Sent mine 26th Nov. Cheque cashed this morning.

chris_the_bee

10_66 said:

Band7 said:

My Regular Savers are both open. They cashed the cheque for one of them, and sent me my passbook. I have requested that they add this account to my online banking but they haven't done this yet. They tell me they posted the passbook for the 2nd one on Friday, so I should soon have it. Looks they lost the cheque with the opening deposit as they haven't cashed this one yet. I had applied for both accounts over three weeks ago, forms sent in the same envelope...

I was told that the applications and the cheques are being dealt with by different teams.  I have no idea how they'll tie the two up.  I know my account's been opened, but there's no sign of my cheque.

Top right hand side on your online banking page has a box "add new account"

gt94sss2

Band7 said:

liamcov said:

subjecttocontract said:

Sent mine to Monmouth on 26/11.....I'm not surprised I haven't heard......in fact expected long delay.
* They are swamped with applications.
* Postal strike 30/11 & 1/12
Might hear something mid December.....if I'm lucky.

Any further news from anyone?

I sent them a secure message on Saturday but they haven't responded. What is the response if calling them - wait until they get back to you?

My Regular Savers are both open. They cashed the cheque for one of them, and sent me my passbook. I have requested that they add this account to my online banking but they haven't done this yet. 

I sent applications for both Regular Savers on the 24/25 November. 

The accounts were opened on the 6th December (3.75%) and the 7th December (5.5%) - both by the same person I believe - each showing the cheques paid in.

Both passbooks (different colours!) arrived in separate envelopes on the 10th but only the £250 cheque has been cashed as of yet (on the 7th).

As above, you can add the accounts to their online service yourself once you have the account numbers.

10_66

chris_the_bee said:

10_66 said:

I was told that the applications and the cheques are being dealt with by different teams.  I have no idea how they'll tie the two up.  I know my account's been opened, but there's no sign of my cheque.

Top right hand side on your online banking page has a box "add new account"

 I’m familiar with MONBS and had already added the account to my existing online “dashboard” as normal, but they don’t appear to be able to tie up the account with the cheque I sent with the application (in my case, anyway) as it hasn’t been presented. Like I say, their system seems rather chaotic.

veryintrigued

I bet the non Monmouthshire RS forumites are loving these blogs.

Band7

gt94sss2 said:

As above, you can add the accounts to their online service yourself once you have the account numbers.

It's not so much what you can do, but what you have to do if you want to see your account in MonBS on line banking. You have to request it, using "Add account" in online banking. It will then take a working day (at least) for the account to actually show. I wouldn't be surprised if it needs manual approval / action their end to actually show.

cricidmuslibale

Just a word of warning for anyone trying to both open a Nationwide Start to Save Issue 2 - presently paying 5% variable annual interest with maximum monthly deposits of £50 - and fund it on the same day! If you already have a current account or an instant access savings account with Nationwide then you will be able to do this with no problems whatsoever via their Internet Bank. If, however, like me you intend on funding your new Start to Save Issue 2 from a nominated account which is e.g. a current account not provided by Nationwide, please do not be at all surprised if you're unable to do so until at least 2 days after opening the Start to Save account!

I made what I hope was an understandable mistake today of trying to fund my new Start to Save Issue 2 from my nominated account, an HSBC current account, c.30 minutes after opening the former, in order to maximise interest. HSBC simply would not recognise this new Nationwide savings account as belonging to me, either online (after multiple attempts) or by phone, despite me doing my very best to try to persuade them otherwise. So I then contacted a Nationwide online assistant (via their Internet Bank chat feature) who confirmed that a newly opened Start to Save Issue 2 will very likely not be acknowledged by an external (to Nationwide) nominated account until an unspecified few days after account opening. Thus, if you want to maximise interest earned on a newly opened Start to Save Issue 2 by funding it on the day of account opening, you have to fund it with an internal transfer from a Nationwide current account or instant access savings account!

AndyTh_2

cricidmuslibale said:

Just a word of warning for anyone trying to both open a Nationwide Start to Save Issue 2 - presently paying 5% variable annual interest with maximum monthly deposits of £50 - and fund it on the same day! If you already have a current account or an instant access savings account with Nationwide then you will be able to do this with no problems whatsoever via their Internet Bank. If, however, like me you intend on funding your new Start to Save Issue 2 from a nominated account which is e.g. a current account not provided by Nationwide, please do not be at all surprised if you're unable to do so until at least 2 days after opening the Start to Save account!

I made what I hope was an understandable mistake today of trying to fund my new Start to Save Issue 2 from my nominated account, an HSBC current account, c.30 minutes after opening the former, in order to maximise interest. HSBC simply would not recognise this new Nationwide savings account as belonging to me, either online (after multiple attempts) or by phone, despite me doing my very best to try to persuade them otherwise. So I then contacted a Nationwide online assistant (via their Internet Bank chat feature) who confirmed that a newly opened Start to Save Issue 2 will very likely not be acknowledged by an external (to Nationwide) nominated account until an unspecified few days after account opening. Thus, if you want to maximise interest earned on a newly opened Start to Save Issue 2 by funding it on the day of account opening, you have to fund it with an internal transfer from a Nationwide current account or instant access savings account!

or a current account from a bank/BS that doesn't restrict transfers if Confirmation of Payee isn't yet set up

liamcov

Not the right word but I'm 'glad' it isn't just me dealing with Monmouthshire delays.